Reliance Energy to transfer infrastructure projects to 100-per cent owned subsidiary
30 Oct 2007
Reliance Energy Ltd (REL) says it plans to transfer its infrastructure projects to a separate 100-per cent owned subsidiary, subject to statutory approvals.
REL''s current portfolio consists of the following infrastructure projects covering development of roads, bridges metro rail and real estate:
Roads
In
the last two years REL has emerged as the largest developer of road and highway
projects for the National Highways Authority of India under the build, own, transfer
scheme. REL is presently involved in the four-laning of five National Highway
projects in Tamil Nadu, covering a length of 490km at a cost of Rs3,100 crore.
In addition REL is also bidding for number of other large road projects including the proposed Rs5,000 crore, 20km-Western Freeway Sealink Project, to connect the Worli-Nariman Point end of the Bandra-Nariman Point sea link in Mumbai, and the proposed Rs6,000 crore Jaipur Ring Road Project for the construction of a 12-lane, 150 km-long highway around Jaipur.
Real
Estate
Reliance Energy-led consortium has emerged as the preferred bidder
for the development of a new business district over an area of 77 acres in Hyderabad
City. The project will have a built up area of 11 million sq ft, and will include
the construction of a 100-storey trade tower - likely to be the tallest in South
East Asia - at a cost of Rs 6500 crore.
Metro
Rail mass rapid transit system
The REL-led consortium has been awarded
the metro rail project in Mumbai city. The 35-year public-private partnership,
based on the build, own, operate and transfer model, involves the development
and operation of a fully elevated metro rail. The total cost of the project is
over Rs2,500 crore.
The project will cover a distance of about 12km, and benefit over 6 lakh commuters every day. It will connect Versova to Ghatkopar, through Andheri, reducing the travel time from the current 90 minutes to less than 22 minutes. The foundation stone for the project was laid by Prime Minister Manmohan Singh, in June last year.
REL has also bid for Line 2 of the Mumbai Metro 32-km elevated track between Mankhurd and Charkop via Bandra, at an estimated investment of around Rs 6,500 crore.
Mumbai
Trans Harbour Link
Reliance Energy is bidding for the Rs6,000 crore Mumbai
Trans Harbour Link, which will connect the mainland of Mumbai to Navi Mumbai.